Commercial Finance Deals Across America- is it Possible?

By: Patrick Bedall

Deals can come from here, there, and everywhere. Are you getting your share?

Maybe you have deals from here covered. Now, what about there and everywhere? Is being in the right place at the right time all it takes for you to be successful in the commercial finance industry? It may not be all it takes, but it is certainly where it starts. If a potential client doesn't know you and doesn't know that you are the right broker for the job, then you will never get the deal. Is this a fair assumption?

No matter how hot the national commercial finance industry may be as a whole, hot and cold markets are a fact of life. Working a limited geographic area puts you at the mercy of the local market. If the market happens to be hot, you are booming. If it is cold, then you are scrambling to make ends meet. By working a national client base you will insulate yourself from the effects of hot and cold markets. The key is to find those hot markets and make sure that investors know that you are the right broker for the job. If the commercial industry is hot in Miami, but you live in Dallas, you still want to have a shot at getting those deals, right?

What are the requirements to work deals on a national level? Some states, such as California, require a higher level of licensure than most other states. Many states however, do not have any limitations for commercial finance brokering. These states provide a wealth of opportunity for a broker with vision, commitment, and the right partner on their side.

In addition to commercial industry licensing requirements, you will need to ensure that you are licensed to do business in the state where the borrower is located. This means that if you are licensed to do business in Virginia and the borrower is located in Virginia you can broker any deal that borrower may have despite the location of the property. In most cases this requires a simple registration with the appropriate state government office. By becoming registered to do business in multiple states, you will increase your geographical reach. This translates into a greater potential deal flow and more money for you. The only thing left is to devise a plan or locate a partner that can get you in the right place at the right time.

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